The Hottest IPOs In India in 2021

A current startup boom combined with a maturing stock market in India has resulted in a string of buzzy startups planning to go public in 2021.

Food delivery giant Zomato kicked off this trend as the first of a series of highly anticipated IPOs on July 14, and it saw huge success. It was the biggest listing in India since March 2020 — and lived up to its hype; it sold shares at 76 rupees a piece and valued the company at $12.2 billion.

In the first four months of 2021, 11 companies in India reached unicorn status. The world’s most populated country has seen excellent performance in its stock market this year, and despite the COVID-19 pandemic, a slew of first-time investors are participating in the stock market and companies are seeing successful returns.

The Org identified four lucrative startups, other than Zomato, to keep an eye on as they go public later in the year.

Paytm

Founder: Vijay Shakar Sharma Headquarters: New Delhi Expected Valuation: $25B to $35B

The most anticipated IPO on the list is Paytm. Standing for “pay through mobile,” this fintech is India’s largest mobile payments and commerce platform. Over 20 million merchants and businesses are powered by the app and 300 million use it to pay at stores. Parent company One97 Communications (which is also founded and led by Sharma) filed to go public last month, and if all goes well, it will be India’s largest public listing, eyeing between a $25 to $35 billion valuation.

MobiKwik

Founders: Bipin Preet Singh and Upasana Taku Headquarters: Guragaon Expected Valuation: $255M

Another Fintech taking the market by storm is MobiKwik. It’s a mobile wallet application that is used to send and receive money digitally to pay bills, shop online and complete DTH recharges. Founded in 2009 by Bipin Preet Singh and Upasana Taku, the company has racked up $110 million in fundraising and it plans to raise $255 million in an IPO.

Delhivery

Founders: Sahil Barua, Mohit Tandon, Bhavesh Mangloni, Suraj Saharan, Kapil Bharati Headquarters: Gurugram Expected Valuation: $500M

Cleverly-named Delhivery is India’s largest independent shipping and logistics company. Started in May 2011 as an express logistics service to Delhi, the team and company has grown exponentially over the past decade. It recently closed a $277 million Series H funding round led by Fidelity, and it is expected to list within 5-8 months and raise an estimated $500 million.

Nykaa

Founders: Falguni Nayar Headquarters: Mumbai Expected Valuation: $4 billion

Nykaa is an ecommerce platform specializing in cosmetics and beauty products. It’s the only startup on this list founded and run by a woman. It has battled its way through an ecommerce market dominated by players like Amazon and Walmart-backed Flipkart to find its niche. The online marketplace records over 1.5 million orders a month and currently holds 15 million registered users.